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Posted by
cachaca
on 2011-02-23

PUBLIC:

Generally I had a really good experience pitching Seraph and would do it again. The process was extremely fast (4 weeks to term sheet), very structured (three scheduled calls; two quick calls to ask due diligence questions that came up), and straight forward (no wasted time, no stupid questions etc.). The term sheet ended up being a good amount lower than what we got from other folks - but, hey, why not spend a total of about 10hrs to get another term sheet. As said, I would pitch them again for the next company.

If you're reading reviews of Seraph without being logged in (so you can see the private portions), you really should log in. Even most of the positive reviews were requested and have a lot of caveats.

What I've heard from friends who've taken funding from them is Seraph will not add value, negotiate aggressively and behave badly on the board. Before you're tempted to take their money, call the founders of their portfolio company.

Also, a quick google search for "Tuff Yen" brings up this article from 2003:

http://www.nashvillepost.com/news/200...Nashville Post
Where Are They Now?
Dollars to Yen
Tuff Yen
A man of mystery who capitalized on his credentials as a former member of the San Francisco-based investment firm that helped launch Amazon.com, Tuff Yen dazzled locals with visions of Silicon Valley-like returns on Nashville dot-com startups. But in less than two years time, Yen had come and gone from the Nashville investment scene like a bad case of the flu.

Reached at his home in Atlanta, Yen told Nashville Post that he is currently the founder and CEO of Seraph Group LLC, an investment firm he claims has offices in San Francisco, New York City, Los Angeles and Atlanta. “Seraph Group invests in high-growth businesses across all sectors and industries,” Yen says. He declined to specify a Seraph Group investment. Investment firm sources in Atlanta tell Nashville Post they do not recognize the Seraph name and have not heard of Yen making any news in their area in 2002. Web searches turned up no information about Seraph in any of the markets that Yen mentions.

Yen left Nashville in 2001, quickly landing as a partner with Total Technology Ventures LLC, an Atlanta investment firm with an eye for mid- to late-stage privately held companies. But Yen left the firm in December 2001 after only a few months on the job. A TTV official says that they “are not talking” about the circumstances that led to Yen’s departure. “For various and sundry reasons, it didn’t work out,” the TTV contact states. “It might border on the personal.” Yen counters, “With regards to my reasons to depart from Total Technology Venture—[I left] to pursue my own investment firm. Wish me luck!”

Earlier in 2001, Yen’s departure from Nashville and split from fellow fund manager of Titan Ventures, Bobby Frist, was sudden. At the time, Yen and Frist were halfway toward their goal of raising a $15 million fund for IT startups in Nashville. Speculation swirled that Yen left after beginning to simultaneously raise money for a similar fund in Atlanta.

True or false, the departure of Yen, who initially looked like a prescient investor on the local venture capital landscape, ended a period of brisk activity by Yen in Music City.

In addition to his work with Titan Ventures, Yen also started Internet incubator IdeaMachine, which funded planetWE.com, a multi-service online management company catering to small businesses like PayMaxx in Franklin. Yen dissolved the company when he left Nashville. IdeaMachine was also an investor in BlueStar Communications, a high speed digital subscriber line (DSL) provider destined for a national roll-out and a $175 million IPO before it was purchased outright by Covad Communications for $202 million in stock.

Posted by
Noob
on 2009-05-20

PUBLIC:

Seraph has been a great investor in our company. They were easy to work with and were able to move quickly, and followed through on verbal commitments. After closing, they actively offered a process to exploit their investor network, though we're still trying to figure out how to get to the people we need through their network - but that's our issue, not theirs. I'm a bit surprised at the negative comments, since our experience has been overwhelmingly positive.

Posted by
SixthTimeStartUp
on 2009-05-15

PUBLIC:

We closed a round with Seraph last year. They were very efficient to pitch - we had an initial meeting with Tuff Yen, and he told us he could make a decision in a "few days". Having heard this before, I was skeptical, but after a 30 minute phone call with Seraph's investment committee, Tuff committed funds and we moved to a close relatively quickly.

Posted by
bfe98
on 2009-05-11

PUBLIC:

My personal experience with Seraph was top notch. Tyler Dorman and Tuff Yen both seem very competent and hard working. They were willing to move extremely fast, and Tyler was extremely diligent in maintaining open communication. Most importantly, Seraph was the only group that actively worked for my company from day one, setting up real relationships with real partners. Even better, they continued helping even after I made it clear they wouldn't be participating in the round (for reasons unrelated to them and outside their control). I think they've realized they have a bad reputation in the valley, and I even think they realize some of it might have been earned. But I also believe they're working to turn that around. I'd definitely consider them in my next round.

First, pitching to Seraph was extremely efficient. They make quick decisions and let you know concerns so that you can address them appropriately.

Once Seraph became an investor, since their LPs are all high profile executives, having their feedback, introductions, help in refining the message, etc. has been great. Also - the board member Seraph added to our company is TOP NOTCH.

Seraph Group was a great choice for our business. They are truly unique. They provide all the upside of access to a great network of seasoned executive and successful entrepreneurs while eliminating the time consuming investor relations that typically comes with having many angel investors. Most importantly they have stood behind the business in these unpredictable times and have truly added value in numerous areas.

Pitched two parters Rahul Saxena, Tuff Yen and an associate earlier in the year. The associate was the only one in the room with any understanding of our solution and market. No intelligent questions from the partners, No follow-up, waste of time.